How many credit cards should I have?
“Hi Saundra! As someone who is getting her credit back in order, I want to be wise about applying for credit cards. I have two and working hard to keep them both under 30% utilization. I’m considering applying for one last card. How many credit cards is too many?” Submitted by Laurin O. There are…
Read MoreHow can I get a loan for a cheap used car?
Hello, Saundra! How do I go about finding and choosing a certain type of loan (if one exists) that would enable me to quickly buy a cheap used car (around a couple thousand) that I could be able to pay back (with no job/income) with only the money I have saved from last semester’s student…
Read MoreHow Can People on Government Assistance Save for Retirement?
“Where are the best places for people on state assistance to start saving for retirement? I’m looking for something with low starting balances and low monthly transfers to the account. Do you recommend any financial companies, savings accounts, government-issue bonds, stock market?? I am so confused!” Submitted by Jessica L. I want to acknowledge your…
Read MoreShould I use money in a mutual fund to fix my basement?
“I have some money in a mutual account that I transferred from an IRA account. I want to use some of this money to fix my basement. Should I?” Submitted by Pauline B. I’m going to have to make a few assumptions here to respond to your question. It seems you transferred funds from an…
Read MoreHow do you know if life insurance is a good choice?
“How do you know which life insurance is good for you?” Submitted by Migdalia C. Life (and other) insurance policies are a way to protect your assets. If you think about your decision this way, you’ll have the information you need to make the best decision for you. What are your needs? Consider these questions:…
Read MoreHow will filing for bankruptcy affect my retirement?
What is your perspective about filing for bankruptcy in regards to saving for retirement? Submitted by Chris C. When it comes to any financial decision, everything affects everything. Kudos for thinking about the impact of bankruptcy on retirement planning. The decision to file bankruptcy is a big one, as it will impact your financial life…
Read MoreI just completed a chapter 13 bankruptcy. Can I apply for a personal loan?
“Hi, I just completed a chapter 13 bankruptcy and would like to know if I can apply for a personal loan. Thank you.” Submitted by David N. Thanks for your question about life (and credit) after bankruptcy. This is a common situation and the good news is that getting Chapter 13 debt relief is not…
Read MoreMy kids are 4 and 7. Is it too late to open a 529?
“My son is 7 and my daughter is 4. Is it too late to invest in 529 plan for them? What would be a better alternative to save for their college and financial future?” Submitted by Stella D. It is never too early or too late to start saving for college (or for anything, for…
Read MoreBuying a house seems unattainable for me. What can I do?
“Thanks you for your blog and articles to educate oneself. I hear a lots about affordable housing, which concerns me because the prices on these houses are still not attainable for people like me. I want to buy a home with the Habitat for Humanity program. Can you give insight on what it takes to…
Read MoreWhat Stock Can I Invest in That Will Earn Money with Low Risk?
“What stock can I invest in that will earn money with low risk?” Submitted by Fernando A. I’m glad you are thinking about investing while also considering the risk involved. Clearly you understand the relationship to risk and return (low risk = low return) and I am wondering about the goal of your investment plan.…
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